A federal judge signed off on a $2.43 billion settlement by Bank of America Corp. to resolve claims that it misled investors ahead of its acquisition of brokerage firm Merrill Lynch & Co. during the financial crisis.
The payment is the largest settlement of shareholder claims by a financial firm since the downturn rocked the U.S. economy, led to the bankruptcy of Lehman Brothers Holdings Inc. and nearly caused the collapse of Merrill Lynch and other financial companies.
‘Enforcement 40’ for 2020
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